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Currency boards impose certain constraints on the ability of governments to conduct discretionary economic policies. The advantages they bring in establishing confidence in the currency, however, outweighs such considerations in countries whose greater need is the establishment of the sound foundations of a market economy.
The 'Currency Board' arrangement is a plan desperately needed in a country rebuilding itself, and where there had been a widespread mistrust of government and the banking system.
Peter Nicholl
Governor, Central Bank of Bosnia and Herzegovina
Introduction
Burma's economy is a disaster...
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